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-Refer to Exhibit 5-3 Which Shows the Demand and Supply

Question 50

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-Refer to Exhibit 5-3 which shows the demand and supply of a college athlete.Suppose that NCAA rules limit the amount that the college can pay this athlete,such that their payment can not exceed the cost of attending the college (currently,$8,000) .What is the consumers' surplus for the college (with respect to this one athlete) ? A) area 1 B) area 2 C) area 1 + 2 + 3 D) area 1 + 2
-Refer to Exhibit 5-3 which shows the demand and supply of a college athlete.Suppose that NCAA rules limit the amount that the college can pay this athlete,such that their payment can not exceed the cost of attending the college (currently,$8,000) .What is the consumers' surplus for the college (with respect to this one athlete) ?


A) area 1
B) area 2
C) area 1 + 2 + 3
D) area 1 + 2

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